The present invention relates to a new and distinct cultivar of Tradescantia, given the name, ‘Regal Charm’. Tradescantia is in the family Commelinaceae. This new variety is from a planned breeding cross for yellow foliage, compact Tradescantia. The new cultivar is a seedling from the cross of Tradescantia ‘Sunshine Charm’ (U.S. Plant Pat. No. 21,480), as the seed parent and Tradescantia 28-2 a proprietary, unnamed seedling, as the pollen parent. Compared to the seed parent, Tradescantia ‘Sunshine Charm’, the new cultivar has deep violet rather than dark pink flowers. Compared to the pollen parent, Tradescantia 28-2, the new cultivar has yellow gold to yellow green foliage rather than green foliage. Compared to Tradescantia ‘Blue and Gold’ (syn. ‘Sweet Kate’) (unpatented), the new cultivar has a more compact habit and deep violet rather than blue flowers.